Majestic Asset Management, Inc. added the Shoreham Apartments to their expanding portfolio in an all-cash purchase with a 30 day escrow. Located at 8755 Shoreham Drive in West Hollywood just above Sunset Plaza, and the famed Sunset Strip, has views from Downtown to the Beach. The 10 unit apartment building has 2 bedroom, 2 bath units averaging nearly 2,300 SF and as large as 2,800 SF with roof top decks.
This area is populated with famous Los Angeles nightlife attractions like The Roxy Theatre, The Key Club, Whisky a Go Go, The Viper Room, The Troubador, and Sky bar. This location allows easy access to The Beverly Center and The Grove entertainment district; some of the most extensive and exclusive shopping areas West Los Angeles has to offer. Some of the many stores residing in the Beverly Center include Bloomingdale’s, Burberry, D&G, Prada, Tiffany & Co., and Gucci.
Brian Lezak of Majestic, stated, “The property is located in an “A+” location with extremely large units. The acquisition is representative of our continuing interest to expand our portfolio throughout the Western United States. Shoreham is our most recent acquisition since our purchase of the 275,000 SF- Sherman Plaza office building in Van Nuys.”
Lezak went on to say, “We are currently in escrow on a 29 unit apartment building located in a prime location of Santa Barbara which is scheduled to close this month.”
Majestic Asset Management, Inc. (www.majesticllc.com) is a full service property management company that owns and manages over 60 properties totaling over 1,000,000 square feet of commercial buildings and 1,500 apartment units.